The difference is that I have physical cash in the bank and the bank is robbed
This may seem pedantic, but no! You certainly don't have physical cash at your bank.
Only a miniscule percentage of monetary reserves are in physical form and a bank is not obliged (as a matter of fact it would be rather counter productive) to store physical cash on customer deposits.
This may seem pedantic, but no! You certainly don't have physical cash at your bank.
Only a miniscule percentage of monetary reserves are in physical form and a bank is not obliged (as a matter of fact it would be rather counter productive) to store physical cash on customer deposits.